The Caterpillar engineering group’s investment arm, Caterpillar Venture Capital (CVC), has invested an undisclosed sum in Fisker— a Californian electric vehicle start-up that is developing solid-state battery technology.
Fisker told BEST Battery Briefing details of the deal were being kept under wraps. However, a spokesperson said the investment, involving “fundamentally different industries”, demonstrated the “mutually recognised importance that electrification solutions will represent to multiple business segments in the future”.
Fisker Inc was established in 2016 by Henrik Fisker— renowned designer of such cars as the Aston Martin DB9 and V8 Vantage— following the purchase of Fisker Automotive by Chinese autoparts conglomerate, Wanxiang Group.
Fisker’s next generation batteries for use in EVs have promised lots— or at least Fisker have promised lots of them— but the firm’s EMotion vehicle, launched in 2017, did not feature the “game-changing” graphene supercapacitor or solid-state chemistry originally indicated.